The federal financial regulatory agencies have jointly issued the attached reminder of Supervisory Guidance for Financial Institutions Affected by Hurricane Katrina (Katrina Guidance Reminder). The Katrina Guidance Reminder reemphasizes that working constructively with borrowers is in the long-term best interest of both the financial institution and the customer.

Highlights:

The Katrina Guidance Reminder recognizes that many communities and families may need an extended period of time to recover from the unprecedented magnitude of the devastation caused by Hurricane Katrina.

It also reminds examiners and financial institutions to consider the principles outlined in the Hurricane Katrina Examiner Guidance.